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Fuel Scarcity Will Last For 2 More Weeks — IPMAN
This is despite yesterday’s insistence by the Nigerian National Petroleum Company Limited (NPCL) that it has sufficient supplies of the commodity on hand.
However according to Chinedu Ukadike, IPMAN’s public relations officer, the product isn’t offered in the nation. He claimed that most refineries in Europe are undertaking turnaround maintenance, and the product has become a little more difficult.
Ukadike further attributed the severe shortage of fuel to import restrictions and the Nigerian Midstream and Downstream Petroleum Regulatory Authority’s (NMDPRA) sluggish license renewal process for marketers.
Out of 15,000 marketers, only 1,050 have gotten their licenses renewed by NMDPRA.
He said: “The situation is that there is no product. Once there is a lack of supply or inadequate supply, what you will see is fuel scarcity and queues will emerge at filling stations.
“On the part of NNPCL, which is the sole supplier of petroleum products in Nigeria, they have attributed the challenge to logistics and vessel problems.
“Once there is a breach in the international supply chain, it will have an impact on domestic supply because we depend on imports. I also have it on good authority that most of the refineries in Europe are undergoing turnaround maintenance, so sourcing petroleum products has become a bit difficult.
“NNPC Group CEO has assured us that there will be improvement in the supply chain because their vessels are arriving. Once that is done, normalcy will return. This is because once the 30-day supply sufficiency is disrupted, it takes two to three months to restore it.
“We expect that by next week or so, NNPC should be able to restore supply and with another week, normalcy should return”.
On challenges faced by marketers in renewing their licenses, he said: “NNPC has said the marketers who have not been able to renew their licenses will not be allowed to remain on their portal which has been shut for some time now. Because of this, we have not been able to request new products.
“At this nascent period of deregulation, you will discover that this leads to scarcity, even when the product arrives. As it is now, even by their data, out of 15,000 marketers that are on the portal with licenses, only 1,050 renewed their licenses.
“The requirement for renewal by NMDPRA is so much. Marketers are facing a hostile environment. NNPC placed a deadline of April 15, 2024, for marketers to renew their licenses.
“We are, therefore, appealing to NNPC to extend this deadline and also to NMDPRA to hasten the release of licenses of marketers who have completed their processes, and also reduce bottlenecks around license renewals”.
Gentle Reminder: Be careful how you use your authority and influence, be wise, and treat others with respect.
Chychy Jonas
